Duplicating motionpaths(keyframes)
How about some Particles?

Create a single Metaball.
On a separate layer create the text and convert it to mesh (AltC)




On the text object add a particle system.



Set the Physics tab to No and in the Render tab  set it to Object and choose your metaball.



Go back to the layer with the metaball and you should have your text made of metaballs.



To see a preview of the particle system press AltA



You can edit the number, size, randomnes on the particle settings, and to really have fun: enable physics and get wild...